Bithumb Reports 135.8 Billion KRW in Revenue Last Year, Down 58% Year-on-Year

Net Income of 24.3 Billion KRW... Maintaining Profitability for 4 Years

Virtual asset exchange Bithumb Korea recorded annual sales of 135.8 billion KRW in 2023, a 58% decrease compared to the previous year.

Bithumb Korea disclosed these 2023 results through its business report on the 1st. During the same period, operating loss was 14.9 billion KRW, and net profit for the period was 24.3 billion KRW, down 75% from the previous year. However, net profit remained positive for the fourth consecutive year.

The main cause of last year's sales decline was the decrease in trading volume due to the downturn in the virtual asset market. Additionally, the burden increased as the company implemented a zero trading fee policy in the fourth quarter.

A Bithumb representative stated, "Amid the difficult market environment known as the crypto winter last year, Bithumb focused on enhancing user convenience and strengthening customer services," adding, "This year, we will continue to introduce differentiated services unique to Bithumb to drive performance improvement."

This content was produced with the assistance of AI translation services.